Philippines Trade Trends February 2026

According to data released by the Philippine Statistics Authority (PSA), the country’s international trade in goods reached USD 18.3 billion in January 2026, an annual increase of 10.7 per cent, with exports growing by 8 per cent year-on-year, the highest level since October 2025. Meanwhile, imports registered a 12.6 per cent increase, the highest record since November 2025.

Electronic products remained the Philippines’ leading export category, generating USD 4.2 billion in February 2026 and accounting for more than 50 per cent of total exports. Machinery and transport equipment and other manufactured goods were the next largest export groups during the same period.

The United States was the Philippines’ top export market in February 2026, amounting at 42.9 per cent of the Philippine’s total exports, followed by Japan, China and the Netherlands among the main destinations. On the import side, China remained the country’s largest supplier, with exports to the Philippines increasing by 24 per cent, followed by South Korea, Japan, Indonesia and the USA.

In its latest economic outlook, the International Monetary Fund projected Malaysia’s GDP growth rate at 5.6 per cent for 2026.

The Association of Southeast Asian Nations (ASEAN), a political and economic union with a population of 667 million and a combined GDP of USD 4.2 trillion in 2025, continues to play a central role in regional trade dynamics.